Governance Overview

A Guide for Prospective Board of Director Candidates

Members of the Board of Directors play an important role in ensuring the association’s operations are maintained in a safe and sound manner and its public mission to serve rural America and agriculture is being fulfilled.

Board of Director Elections

Directors are elected annually on a staggered basis. In the May 2027 elections, the following Board positions, currently held by the members listed, will be up for election for a four-year term:

• Region 6: Terri J. Hawbaker (Clinton County) & Marilyn L. Thelen (Clinton County)
• Region 7: Troy L. Sellen (Oconto County) and Dale L. Wagner (Manitowoc County)

Accountability

Directors are accountable to stockholders and the Farm Credit System (System) investors for:

• Overseeing the strategic direction and objectives of the association
• Understanding the association’s operations
• Providing for competent association leadership and management
• Establishing systems and processes that provide safe and sound operations
• Ensuring information and disclosures provided to member-stockholders and System investors are accurate and reliable
• Diligently and impartially performing their duties as directors
• Exercising independent judgment
• Remaining loyal to the association’s interests

Eligibility

Director candidates must meet the following eligibility requirements:

• Must be a voting stockholder of the association
• Must have an outstanding loan balance with the association
• Must maintain loan(s) in compliance with association policies and standards
• Must reside or have headquarters within the association’s chartered territory
• May not have restructured indebtedness with a System institution
• May not have been an employee of a System institution within one year of election
• May not serve as a director, officer, employee or agent of a financial institution or other entity that engages directly in the business of providing financing or related services products that are offered by the association

Grounds for Dismissal

Upon election, directors may not:

• Be convicted of any felony
• Be held liable for damages in fraud
• Be convicted of a criminal offense involving dishonesty or breach of trust
• File for bankruptcy

 Board of Directors Frequently Asked Questions

Better Understand the Role of director.

To get a cleaner picture of the role Farm Credit Administration Directors assume, download and read the comprehensive guide: Farm Credit Administrations Director’s Role guide.

Do you have a question for the Board of Directors?

A Guide for Prospective Nominating Committee Members

The Nominating Committee meetings will be held in August and December to identify candidates for the following year.

The Nominating Committee identifies, evaluates and nominates a qualified slate of candidates for stockholder election to the association’s Board of Directors and to the association’s Nominating Committee.

Requirements

Nominating Committee members must:

• Be a voting stockholder of the association
• Have an outstanding loan balance with the association
• Not be a director, employee or agent of the association
• Not be a candidate for the Board of Directors while serving on the Nominating Committee
• Reside or have a headquarters within the association’s chartered territory

Commitment

Nominating Committee members are elected to a one-year term with a maximum of three consecutive years. There are generally one to three meetings per year.

• July: The Nominating Committee in a region with open director positions meets to review expectations for candidate sourcing and selection
• September: The Nominating Committee in a region with open director positions meets to conduct formal interviews with identified Board of Director candidates
• December: The Nominating Committee meets to review expectations for the source and selection of Nominating Committee candidates
• January: The Nominating Committee meets by conference call to approve the slate of candidates